Results for the year to December 31, 2012, showed that profits at bwin.party Digital Entertainment fell 17 per cent in 2012, with the company identifying a new gaming tax in its core German market as the key factor in the drop.
The company’s earnings before EBITDA were €164.9m, down from €199.3m a year earlier but slightly up on the forecast €158m. Revenues for 2013 are also likely to be down as bwin.party shifts more of its business to new regulated markets.
A five per cent turnover tax on sports betting in Germany came into effect in July 2012, impacting on bwin.party revenues, which were down two per cent to €801.6m.
